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Dec 23, 2012
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why is chained cpi suddenly so vital to the fiscal cliff negotiation? it isn't a spending cut or a tax hike, but it would effectively cut spending and raise taxes on some, saving the government an estimated $300 billion over the next decade. the problem is that what that means is that seniors, the longer they live, the less money they would actually take home. they would see a cut to their benefits and that's what has progressives so upset. >> politically speaking, this was a significant concession from the democrats or was it just an accounting fix? >> well you know, it was both of those things. it is an accounting fix. it is a significant concession from democrats. some democrats who i spoke to said look, maybe i would consider this maybe. but only if we could have some sort of mechanism, ali, that a senior past age 85 who would be facing six or 8% cut in benefits, maybe there would be an adjustment to make sure, especially for people who are very poor, that there would be some sort of safety net. paul krugerman has said liberal firebrand in the "new
why is chained cpi suddenly so vital to the fiscal cliff negotiation? it isn't a spending cut or a tax hike, but it would effectively cut spending and raise taxes on some, saving the government an estimated $300 billion over the next decade. the problem is that what that means is that seniors, the longer they live, the less money they would actually take home. they would see a cut to their benefits and that's what has progressives so upset. >> politically speaking, this was a significant...
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Dec 23, 2012
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problem that exist, even if you resolve the fiscal cliff we still have a fiscal problem and argue over both tax increases which everybody knows needs to go up in order to fix it and spending cuts and entitlements. >> it may not exist in washington. on your point about dogma, grover norquist, of course, you are you've popularized the no tax pledge for many years. on this plan by the speaker which would have loued taxes to go up your group said it wasn't a tax increase and that still wasn't good tough for a lot of house republicans. >> look, let's understand, there is a plan to actually solve the debt that's been run up, the deficits to continue, entitlement reform and tax reform to get more pro-growth, tax reform and that's the ryan plan passed twice by the house of representatives. people can talk -- >> no support from the president. it's not going anywhere. >> the democrats haven't done a budget in three, four year, haven't put anything forward that deals with entitlements. there's one and only one plan that has actual ily been passed by one house. the president hasn't put anything fo
problem that exist, even if you resolve the fiscal cliff we still have a fiscal problem and argue over both tax increases which everybody knows needs to go up in order to fix it and spending cuts and entitlements. >> it may not exist in washington. on your point about dogma, grover norquist, of course, you are you've popularized the no tax pledge for many years. on this plan by the speaker which would have loued taxes to go up your group said it wasn't a tax increase and that still wasn't...
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Dec 23, 2012
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that is for fiscal 2013. that assumes that somehow the fiscal cliff does not happen. national debt, $16 trillion in debt. debt held by the public, $13 to land? that does not include the social security trust fund. as a percentage of gdp, is getting up there. it is not unprecedented. as we talked about, two weeks ago and last week, it is not so much that the nominal size of the debt that we need to be worried about. it is how fast the debt is growing relative to the size of the economy. you do not want to pay off the debt, but as the debt falls as a percentage of gdp, the economy growing faster than the deficit, we should be just fine. >> -- host: how did we get to this point? we have seen the deficit under this president go up by about $1 trillion. guest: there are two ways to look at it. when you're looking at the size of debt and where we are going, right now, we are still coming out of this economic crisis. you have large deficits for four years, mainly because you have a really low revenues, people do not have jobs or they are getting paid less. there has been som
that is for fiscal 2013. that assumes that somehow the fiscal cliff does not happen. national debt, $16 trillion in debt. debt held by the public, $13 to land? that does not include the social security trust fund. as a percentage of gdp, is getting up there. it is not unprecedented. as we talked about, two weeks ago and last week, it is not so much that the nominal size of the debt that we need to be worried about. it is how fast the debt is growing relative to the size of the economy. you do...
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Dec 23, 2012
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cliff? >> i believe we are. >> a deal to avoid the country going over the fiscal cliff is not looking very good. what's it's going to mean to you and to me coming up >> i want to be able to call my parents and say a bad guy came into our school. your child is coming home safe and sound. the bad guy is leaving in a body bag. >> armed guards in schools. the nra says that's what will clean our children safe. we'll talk to one former governor who took on that gun lobby. >> thank you and god bless america. you guys are the best. thank you so much. >> then details out today about mitt romney's not so enthusiastic approach to running for the white house and what it might say about the will challenges ahead for the gop. good afternoon. all that and more ahead. >>> first, lawmakers are down to the wire on avoiding the fiscal cliff. will they get a deal done before the end of the year, president obama is on vacation and so is house speaker john boehner, but here's what they said before they left. >> c
cliff? >> i believe we are. >> a deal to avoid the country going over the fiscal cliff is not looking very good. what's it's going to mean to you and to me coming up >> i want to be able to call my parents and say a bad guy came into our school. your child is coming home safe and sound. the bad guy is leaving in a body bag. >> armed guards in schools. the nra says that's what will clean our children safe. we'll talk to one former governor who took on that gun lobby....
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Dec 23, 2012
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when it comes to who is to blame for the fiscal cliff gridlock. >> i offered to compromise with republicans in congress. i met them halfway on taxes and i met them more than halfway on spending. >> the president and senate democrats have vowed to reject and veto all of our proposals, while failing to offer responsible solutions of their own. >> kelly: now the wall street journal is reporting that the president reportedly threatened boehner saying he'll blame republicans in a state of the union speech if no deal is reached. here to weigh in on this matter, the host of fox news sunday, chris wallace. >> hi, guys. >> alisyn: chris, first the timeline because senator jeff sessions has come out and said the real deadline is not december 31st, it's actually this coming thursday because the house still needs to read it and ratify it so they must have a decision by thursday. are they just going to kick the can down the road here? >> well, it looks like at the very least, that would be the best outcome at this point. i wouldn't get hung up on thursday, as opposed to next monday or tuesday, turns out
when it comes to who is to blame for the fiscal cliff gridlock. >> i offered to compromise with republicans in congress. i met them halfway on taxes and i met them more than halfway on spending. >> the president and senate democrats have vowed to reject and veto all of our proposals, while failing to offer responsible solutions of their own. >> kelly: now the wall street journal is reporting that the president reportedly threatened boehner saying he'll blame republicans in a...